Former Qwest Communications International Inc. CEO Joseph Nacchios legal team is seeking to overturn his conviction for insider trading.
Nacchios attorney, Maureen Mahoney, filed a 58-page brief with a federal appeals court Tuesday saying there was insufficient evidence for a conviction. She also said the judge gave improper jury instructions and excluded important defense testimony in addition to other company information.
The appeal seeks a new trial.
Nacchio, who is free on $2 million bail, was convicted in April of 19 of 42 counts of insider trading of $52 million of Qwest shares in 2001. He was sentenced to six years in prison, ordered to forfeit his gains and pay a $19 million fine. Nacchio also faces a lawsuit by the Securities and Exchange Commission.
His appeal is set for Dec. 18.
Qwest Communications International Inc. www.qwest.com
In this webinar you will discover bundled solutions to provide to your customers with while maintaining pricing and… twitter.com/i/web/status/1…
May 17 2019 @ 15:34:37 UTC